Brands
Motilal Oswal posts record PAT of Rs 2,360 crore in FY26
Q4 PAT at Rs 661 crore; AMC and wealth drive strong growth.
MUMBAI: Money may not grow on trees but at Motilal Oswal, it seems to be compounding rather nicely. Motilal Oswal Financial Services (MOFSL) reported its highest-ever quarterly and annual operating profit after tax (PAT), clocking Rs 661 crore in Q4FY26, up 25 per cent year-on-year, and Rs 2,360 crore for the full year, marking a 16 per cent rise. The performance was powered largely by its asset management and private wealth management businesses, both of which delivered strong growth across key metrics.
The asset management business, including alternates, saw Q4 PAT jump 63 per cent YoY to Rs 249 crore, while FY26 PAT rose 55 per cent to Rs 798 crore. Total assets under management (AUM) grew 32 per cent to Rs 1.76 lakh crore, led by a 31 per cent increase in mutual fund AUM and a sharp 104 per cent surge in private alternates. SIP inflows rose 78 per cent to Rs 16,479 crore, with a market share of 4.7 per cent.
Private wealth management also delivered steady gains, with Q4 PAT up 18 per cent YoY to Rs 88 crore and FY26 PAT rising 15 per cent to Rs 368 crore. Net flows grew 66 per cent in Q4 to Rs 5,535 crore and 41 per cent annually to Rs 20,154 crore, while AUM climbed 36 per cent to Rs 1.97 lakh crore.
In the wealth management segment, Q4 PAT increased 7 per cent to Rs 204 crore, although full-year PAT declined 7 per cent to Rs 727 crore. Brokerage revenue grew 33 per cent YoY in Q4, with average daily turnover market share at 9.2 per cent. The distribution book expanded 41 per cent to Rs 40,662 crore, while the loan book rose 32 per cent to Rs 6,094 crore.
The capital markets business reported Q4 PAT of Rs 75 crore, up 12 per cent YoY, and Rs 336 crore for FY26, up 30 per cent. The firm ranked first in QIP deals and second in IPO league tables during the year, covering 366 companies and serving over 900 institutional clients.
Housing finance posted strong momentum, with Q4 PAT rising 61 per cent YoY to Rs 59 crore and FY26 PAT up 22 per cent to Rs 159 crore. AUM grew 19 per cent to Rs 5,829 crore, supported by a $100 million fundraise from the Asian Development Bank.
Meanwhile, the treasury book grew 12 per cent YoY to Rs 9,403 crore, delivering an estimated 5 per cent alpha for FY26. However, total reported PAT, including other comprehensive income, stood lower at Rs 2,043 crore due to mark-to-market accounting impacts.
With a 10-year operating PAT CAGR of 33 per cent and an average return on equity of 23 per cent achieved without equity dilution MOFSL continues to lean on its annuity-driven businesses to build a more predictable earnings engine. In a market riding the twin waves of wealth creation and financialisation, the firm appears well-positioned to keep the compounding story going.
Brands
Mother’s Recipe launches Summerwala Sharbat range
Five nostalgic flavours priced at Rs 215 aim to tap summer refreshment demand.
MUMBAI: Call it a sip of summer nostalgia, Mother’s Recipe is bottling childhood memories and pouring them back into the present. The homegrown ethnic food brand has introduced its Summerwala Sharbat range, a five-flavour line-up designed to recreate the familiar tastes and rituals of Indian summers, while catering to modern consumption habits. The range features Mango Panna, Rose Syrup, Jeera Masala Syrup, Khus Syrup and Lemon Ginger Squash, each rooted in flavours that have long defined seasonal refreshment across Indian households. From the tang of raw mango to the cooling comfort of khus, the portfolio leans heavily into recall, not reinvention.
At a time when brands are increasingly leaning on nostalgia as a strategic lever, Mother’s Recipe is positioning Summerwala Sharbat as both a functional beverage and an emotional cue. The idea is simple: revive the small, everyday rituals post-play drinks, family gatherings, the clink of ice in a glass that once defined summer afternoons.
The products are packaged in 750 ml PET bottles and priced at Rs 215, targeting both routine household consumption and social occasions. Distribution spans leading e-commerce platforms as well as select offline retail outlets.
Mother’s Recipe executive director Sanjana Desai said the intent was to bring back flavours tied to “taste, routine and home”, while making them relevant for today’s consumers.
The move reflects a broader shift in the beverages market, where heritage-led storytelling and familiarity are increasingly being used to stand out in a crowded, innovation-heavy category.
With Summerwala Sharbat, Mother’s Recipe isn’t just selling a drink, it’s selling a season, one glass at a time.
